PhD Economist and author of the widely read Gloom Boom & Doom Report has officially put in his endorsement that Ron Paul would make a very good President, joining Pimco's Bill Gross, investor Jim Rogers, and Nassim Taleb as business advocates for the Texas Congressman in 2012.
In an interview with Bloomberg TV on February 2nd, Marc Faber believes that Barack Obama will win re-election in November, however, out of all the Republican candidates, the only one he feels would make a good President, and is in tune with his own policy beliefs is Ron Paul.
Marc Faber: The Republicans haven’t brought anyone forward, that is a desirable candidate, and the one that would be desirable, Ron Paul… Ron Paul would be a very good President.
Bloomberg: That’s because you don’t believe the Federal Reserve has any…
Bloomberg: He wants to audit the Fed…
MF: I think that would be very useful… audit the Fed and audit Fort Knox – Bloomberg TV
Economist Marc Faber has a historical track record of forecasting busts and difficulties in the economy and the markets. He predicted the credit crash of 2008, and the bursting of the Housing bubble to name just a few. Additionally, his background is in the school of Austrian economics, and the belief that central banks are the major problem in monetary policies, both globally, and in sovereign economies.
Recently, Marc Faber has been advocating the need for investors to buy and hold gold, as he sees it skyrocketing in the near future as central banks in the Western economies become forced to print money to stave of liquidity and monetary collapse.
Between Ron Paul and Marc Faber, there is a shared belief in the necessity to audit the Fed, and to hold central banks more accountable for their monetary polices. Even before he chose to run for President, Congressman Paul has been submitting legislation to the House floor ever year seeking a full audit of the nations primary bank.
While Dr. Faber is not a political animal when it comes to economics, it is a strong endorsement by him to say and believe that Ron Paul would make a desirable and great President. And in this year of continuing economic turmoil, Congressman Paul continues to receive support from the market leaders and respected economists throughout the business world.
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